The Board of Directors in their Board Meeting held today have (1) appointed Mr. Piyush Savaliya as the Managing Director of the Company and (2) accepted resignation of Mr. Harpreet Singh ....
Awaiting price reaction for this filing.
Onix Solar Energy Ltd (formerly ABC Gas International Limited) announced key changes at the top on 9th December 2025. Mr. Harpreet Singh has resigned as Managing Director and Director with immediate effect, citing personal reasons and other professional commitments. In his resignation letter, he confirmed there are no other material reasons behind his exit. Simultaneously, the Board appointed Mr. Piyush Savaliya as the new Managing Director, subject to shareholder approval. Piyush Savaliya is described as an entrepreneurial leader with over 15 years of experience in on-grid and off-grid power distribution and turnkey transmission solutions, with a track record in large-scale hybrid megawatt renewable energy projects. The appointment is effective 9th December 2025.
Investors should note a complete change of leadership at the Managing Director level in a single board meeting. While no negative reason was disclosed for the outgoing MD's exit, the incoming MD brings family ties to existing director Nikhil Savaliya, suggesting a promoter-family consolidation at the top. The transition may bring strategic shifts given the new MD's background in renewable energy and transmission, aligning with the company's renamed identity in solar energy.